Selling of Yen crooses has weighed on the USDJPY sending it back below 98.00 and towards the first line of support at 97.80. There are some range traders on the bid here at 97.80. However Japanese traders are looking at 97.50 as the pivot point with the base of the ichimoku cloud coming in at 97.48.
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Yen cross selling sees USDJPY back under 98.00
June 11 2009, 6:54am | Comments »
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AUD/USD approaches stops under 0.8000
AUD/USD, which we last highlightend when it was near stops in the 0.8140/50 area. Now stops are eyed in the 0.8000 region. Having defined a top earlier, maybe we’ll define a bottom intraday.
June 10 2009, 8:40pm | Comments »
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EUR/JPY still under pressure
Not much respite so far for the cross, currently down at 136.15. Dealers tell me that there are lots of stops on the 135 handle, particularly under 135.20, if the fall continues. USD/JPY bids are reported at 97.25/50 but that’s a ways off yet.
June 9 2009, 6:28am | Comments »
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Cable under pressure
Cable is under heavy pressure early, presently down at 1.5870 from an early 1.5930. The USD is seeing across the board strength, while sterling is weak in it’s own right as the market continues to fret over Brown’s future. Technical support now lies at 1.5850/55. Could well be sell stops just below there.
June 8 2009, 9:14am | Comments »
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